no, but don't expect to lose weight directly after working out. It's an on-going process and your body also continues to burn fat well after you are done your exercise. This may shock some, but the results of doing cardio and weight training activity is not simply just the exercise, but the shape that you put your body in to continuasly burn fat throughout your regular daily activities.
You should never stop drinking water. It's un-healthy. Also, drinking lots of water also curbs your appetite. You may be retaining some water, which could add a pound or two, but that extra water will always be there, so it's a variable that is constant (another reason to weigh yourself first thing in the morning).